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- Litecoin price prediction analyst expects a $56 high.
- Litecoin found strong support on $46 mark after dropping from $47.
- LTC price movement shaky in the past 24-hours but stabilizing at the time of writing.
Trading View analyst Future Gold Consortium expects that the Litecoin price will rise towards the $56 mark in a medium-term trade. The cryptocurrency formed an ascending slope on the 4th of October and rose past the $47 mark.
1-Day Litecoin price analysis
LTC was priced $47.04 at the day’s high on the 4th of October, while the 24-hours low was observed at the $45.20 mark. Litecoin was priced at $46.43 US Dollars at the time of writing.
Litecoin price prediction
Trading View analyst Future Gold Consortium believes that the LTC price will soon rise towards the $56 mark. Per this Litecoin price prediction, the cryptocurrency is going to observe a bullish bias in a medium-term trade.
The Litecoin price is expected to move towards the $55.88 mark, which serves as the target price for this trade. The stop-loss is placed at $38.73. Consortium explains that the cryptocurrency currently looks bearish after losing its gains from August. However, the idea suggests that the cryptocurrency will soon see an uptrend.
More analysts reinforce the Litecoin price prediction
Trading View analyst Thunder Pips believes that the LTC price will see an uptrend towards the $52 mark soon. Per the Litecoin price prediction, the cryptocurrency is currently trading inside a descending channel and it is expected to move towards the lower boundary of the channel.
The analyst has suggested that the LTC price will bounce off the lower resistance, which will allow the cryptocurrency to form a wave towards the upside. The analyst’s Litecoin price prediction depicts that the upward wave will allow the cryptocurrency to move towards the $52 mark.
The Trading View analyst Kyer believes that the LTC price will rise towards higher resistances in a long-term bullish movement. Per the Litecoin price prediction, the cryptocurrency will eventually test the $56 resistance.
As observed in the chart above, the cryptocurrency found a support structure between the $39.25 and $41.77 levels. Litecoin has held this support for a long while, and it is now expected to move upwards to test higher resistances. Per this price analysis, the analyst believes that the cryptocurrency will test the $48.58 mark next, followed by $50.67 and $56.33.
The Trading View analyst Vince Prince believes that the LTCUSD pair will see an uptrend towards the $49 mark. Per the Litecoin price prediction, the currency currently trades inside an ascending channel.
The analyst discussed that an accumulation channel exists at the bottom of the ascending channel, and the cryptocurrency currently trades inside the accumulation zone. The cryptocurrency confirmed the first accumulation on the 24th of September, while it traded above the accumulation channel until it dropped on the 2nd of October.
The analyst believes that LTC is building up a similar accumulation and it will eventually break towards the upper boundary of the ascending channel, after reaching a mid-line target near the $48 mark. Per the analyst, the mid-line target will follow a brief pullback towards the upper boundary of the accumulation channel. On the 4th of October, the LTC price moved above the accumulation channel after turning bullish.
Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
